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Closing Arguments: No Jets for the Execs?

November 22, 2008 12:05 AM

As our chief investigative correspondent Brian Ross reported last night, the CEOs from the Big Three automakers spared no expense getting from Detroit to Washington to ask for a $25-billion dollar share of the the government's $700-bilion bailout.

Today, General Motors announced the company would take two of their five jets out of service because, they said, the planes were not being used.

Ford and Chrysler have not revealed any plans, as yet, to change their corporate jet policy.

So tonight, we ask you: Should executives from companies seeking bailout funds be forced to fly commercial?

Tell us what you think.

November 22, 2008 | Permalink | User Comments (151)

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Don't just take the jets out of service, sell them!!

Posted by: Carol Lempges | Nov 22, 2008 12:10:17 AM

I am disgusted by the executives of the big 3. They should give up all of their salaries plus their perks and work for free on the line in their factories

Posted by: Susan Youngdahl | Nov 22, 2008 12:12:08 AM

Of course they should fly on private airplanes. As a stockholder or taxpayer the bext way for teh execs to run the company is to be as efficient as possible. It is not in my interst for them to spend hours waiting for commercial flights and subject themselves to delays and possible kidnppings. We spend so much time thinking of how to punish these execs that we don't realize that it would hurt us not to let the folks who know who to run a business run it. Just because you drive a car doesn't mean you know how to run a company that makes them.

Posted by: Annette Fildes | Nov 22, 2008 12:12:43 AM

Why can't they drive a car?

Posted by: Lori Braunstein | Nov 22, 2008 12:12:44 AM

I think it is discussing what the excutives get around in while the rest of us are struggling to stay afloat. I am so happy their requests for the billions of dollars was denied. I was so glad they were denied.

Posted by: Marianne | Nov 22, 2008 12:13:01 AM

If I have to then they should
as well... if the are crying poverty, sell the darn things.

Posted by: Sal | Nov 22, 2008 12:13:08 AM

hang um high- no jets no bonuses cut their failure pay. same for the crooks running the banking schemes.
let um file for bankrupcy.

Posted by: gary long | Nov 22, 2008 12:13:13 AM

Are you kidding? Yes, they should sell all of their jets and fly commercial. I can't see where selling two jets that aren't even in use is going to do any good. Who do they think they are??????

Posted by: Karen | Nov 22, 2008 12:13:16 AM

I don't believe Auto CEO's should use private jets, should use commercial flights, to travel, especially to Washington, if they're asking for millions for their corporations. These CEO's should start sacrificing just a tiny bit, we as employees, or no longer employee like I am after a corporate layoff, while CEO is treated with luxury.

Thank you.

Posted by: Sophie Byrnes | Nov 22, 2008 12:13:31 AM

Belt tightening is something all of us are experiencing right now. Why not the Big corporations? I will be paying for their bailout and I don't fly private jets OR 1st class. Don;t ask me to bail you out if you aren't willing to tighten your own belt

Posted by: Bev | Nov 22, 2008 12:14:34 AM

executives from companies seeking bailout funds should be forced to fly commercial. after watching the 3 execs on tv the other night asking the men from ford and gm if they would take a pay cut to $1.00 the responses from the two men were an embarassment to the auto industry. the two should be fired, should not be given any retirement benefits or any pension; they should suffer like a lot of people are suffering right now. the only person who stepped up to the plate was the exec from chrysler, stating he would take $1.00 for his pay.

Posted by: CPOPE | Nov 22, 2008 12:15:35 AM

I vote for selling the jets. Take them out of service--? They're out of service for saying that. They have some nerve!

Posted by: Lori Braunstein | Nov 22, 2008 12:15:35 AM

It is a catch22.
At $14million a year(or $7,000/hr) in pay, we can't afford to fly them commercial.
That is $7,000/hr wasted.!!!
Does anyone else see the insanity of this??

Posted by: Bill | Nov 22, 2008 12:15:51 AM

Jets have their place but not when you a claiming to be poor. At least the jets have been claimed to be leased. But how many people does returning the jets put out of work?

What happened to the electronic conference systems that were gong to reduce travel needs?

Would congess accept electronic conferencing in place of physical visits. If not, they must share the blame for the use of jets.

Posted by: Ed Hassler | Nov 22, 2008 12:16:43 AM

they should have gone on a commercial flight....and if the plane went down or something happened, let the next guy in line take over....these men are NOT indespensable. how about even letting someone train one of the LINE guys or union guys do the job...they could certainly USE the increase in pay...THESE EXECUTIVES ARE WAYYYYYYYYYYYYYYYY OVERPAID...
In a financial crisis like we're having now, UPPER MANAGEMENT SHOULD TAKE A CUT IN PAY & GIVE UP THEIR JETS...

Posted by: Mer | Nov 22, 2008 12:16:47 AM

Typcal political grandstanding. Do we really want executives killing time for two hours at airports with their shoes off, going and coming.

Posted by: bob weibel | Nov 22, 2008 12:17:07 AM

Executives of the "Big Three" auto makers should have income capped, bonuses eliminated, and jets scrapped! This includes the owners of the car dealerships.

The public schools in our country are in just as much financial strife, and we don't see the administrators of our future living in multi-million dollar houses, or traveling around the country in jets! I guess the public schools should go to Washington and beg for a bale out of the public schools!
Thank you for your time!

Posted by: Sam Wilkes | Nov 22, 2008 12:17:33 AM

Commercial flights - business section.

Posted by: H. Shubert | Nov 22, 2008 12:17:36 AM

IF they get a bailout there should be
No jets!
No million dollar salaries!
No bonuses!
No Golden Parachutes!
for any Execs!!!!!

Posted by: Bostew | Nov 22, 2008 12:17:55 AM

Even GM trying to get a bailout, makes me sick. If these companies are realy hurting, than they would not be able to afford to fly in private jets. As far as I am concerned, let them find their own way out. No one is bailing you and I out, if we get in debt. All of these big compinies want a free ride.

Posted by: IRONSIDE | Nov 22, 2008 12:18:23 AM

The money they are using for private jets should be going toward helping the business survive. The salary that they make could take care of several of the employees monthly. Stop the bull! this is non-sense!

Posted by: Iwonna Hampton | Nov 22, 2008 12:18:28 AM

They make cars don't they? What's wrong with driving the product they make? Are they not proud of their own product?

Posted by: Daniel | Nov 22, 2008 12:20:01 AM

I'm really tired of this! I've given up EVERYthing, sold all my furniture, haven't bought new clothes in 3 years (except underwear), haven't seen a movie, been to a nightclub in 4 years. I never eat out. It goes on and on. WHY THE HECK SHOULD I BE EVEN A SMALL PART OF BAILING OUT THESE COMPANIES who's CEO's aren't willing to give up ANYTHING?????? THey need to spend their own millions to save their companies and employees. If I have to bail them out, I'll be the first in line to PROTEST, Picket, throw rocks at their buildings, call them 100 times a day, whatever it takes.....

Posted by: accountable | Nov 22, 2008 12:21:02 AM

they don't need all those jets. sell all of them to help there selves. if they get the money hows that going to help. 8 to 10 months there going to be broke again. so i say [NO ]

Posted by: jessie allen | Nov 22, 2008 12:21:18 AM

If the Execs. want a hand out by the Government, they need so sacrifice their lavish life style by flying commercially. How dare they want help from the tax payers & not want to change their ways. I say get rid of the Executives, who failed at their jobs, a help the automotive industries keep their workers working.

Posted by: linda chavarria | Nov 22, 2008 12:21:20 AM

Plan to reduce vehicle inventory and earn gov. loans: Big three to sell inventory at cost or below to public. For each car sold gov. gives auto maker portion of loan money needed. Divide $25 billion by number of over stock vehicles to determine per car amount to go to manufacturer.

Posted by: Hank Bretz | Nov 22, 2008 12:21:34 AM

I do not even agree that we should be giving them a bailout money that belongs to the tax payers. Let alone that they get to keep all of there little play toys like a jet airplane. I find that the government is all too eager to spend money that does not even belong to them.
The big guys will get their money because they have probably already rewarded the finance comittee. I think the government just puts on a show on the tv to make us think they are doing their job.

Posted by: Martha Cole | Nov 22, 2008 12:21:52 AM

Its almost always better to have them on company jets. In most cases it is the best value for the stockholder. Its been proven over and over.

Posted by: Mark | Nov 22, 2008 12:22:07 AM

How dare them ask for billions from the Americian people, when they have billions they can sell... They need to rethink their priorities like the rest of the world right now. If we bail them out they continue to live their frivilous lifestyles while we pay for it.

Posted by: Christina Rowe | Nov 22, 2008 12:22:14 AM

i think its not so much about the jets as that they need to make concessions too , if they are that far in debt then then need to make one big pay across the board like 10% from every one , just that should get them through atleast march or april ,

Posted by: joe | Nov 22, 2008 12:22:45 AM

The elitism era hopefully has come to an end! NO ONE PERSON IS WORTH A SALARY that would feed a family of four, for a generation! It is time to get back to basic honesty, and a clear understanding of what the term ethical behavior means. Ask your grandfather and/or grandmother if you are fortunate to still have them in your life! This country has suffered the "ugly american" syndrome for too long, and yes, many are in that classification. We can change! Change is good when it is for the better! Mr.C

Posted by: Bob Christiaansen | Nov 22, 2008 12:23:17 AM

This whole issue is disusting. While hundreds of thousands of hard working people worry about how to pay the bills. Executives are still living lavishly. They are the ones who caused this whole situation and yet they are the ones who do not suffer. This is typical though our problem is with the lack of accountability.
The nerve of them to fly in private jets with security and expensive cars to drive these executives around. I suppose after their Kobi steak and egg lunches at the Caucus Room they decided to drop by congress to ask for additional money from the taxpayers.
Yes, they should sell the jets and lose all of their other perks. They should follow the example of the CEO of Japan Airlines!

Posted by: Johhathan Lightfoot | Nov 22, 2008 12:24:36 AM

The first order of bussiness is to get rid of the jets and all perks before even asking for help.Sell off the jets. While myself and millions tighten our belts how dare they live so high and mighty. Get real and get rid of the greed.

Posted by: Eleanor Pickowicz | Nov 22, 2008 12:24:49 AM

I agree that they should sale the jets and put that money toward building 60 to 100mpg cars and take all of there bonusess and kickbacks from the oil companys and put it back into the companys. They should definately have to go through bankrupcy, because they had plenty of time to see this comin but they chose to keep linin their pockets as long as they could and bettin that us poor tax payers would just bail them out. I say ta hell with them. They got themselves in this mess not us.
We all know that there are wharehouses full of motors and fuel injection systems that could have prevented such a major downfall for our country.
It all comes down to one thing only. GREED!!!!!!!!!!!!

Posted by: Danny | Nov 22, 2008 12:25:01 AM

Why Certanily, they should also be willing to take a pay-cut. I agree with the electronic conferencing. And the use the good ol' automobile!

Posted by: Sabrina | Nov 22, 2008 12:25:31 AM

I think if the big 3 have their own Jet's then they should, by all means use them. I think the CEO's are paid to much and they should voluntarily take less wages, and maybe even the assembly workers. And then maybe it would be possiable to reduce the cost of the automobile's so more would be sold.

Posted by: Theresa Barr | Nov 22, 2008 12:25:38 AM

I feel that they should have to humble themselves & fly commercial just like all of their blue collar employees. I also feel that if they truly need this money they would sell their personal jets,give up their bonuses (us blue collar workers don't get the bonuses we get a fleece pullover),and they should drop their millions in pay down to $1.00 or less. Do they really need that money ? Probably they might but they will need less if they humble themselves & give up things & salaries Sometimes you have to give to get.

Posted by: becky | Nov 22, 2008 12:25:43 AM

Not only should they fly commercial, but the executives of companies that take bail out money should be capped at no more than the President makes...$450,000!

Posted by: Mark McCully | Nov 22, 2008 12:26:05 AM

Corporate CEO's should be able to use such jets for reasons of safety and expeditious use of time to conduct the business of the company. Members of Congress accept the favors of lobbyists, like air travel and entertainment, all the time and make no apologies. They ought not to throw stones.

Posted by: GERALD T HANSEN | Nov 22, 2008 12:26:27 AM

Fire those idiots and sell the jets! They have a lot of nerve asking for a bail out while they live it up. To the lady who thinks they should keep the jets your're a stupid as they are.

Posted by: Bea Dobmeyer | Nov 22, 2008 12:26:47 AM

It is a catch22.
At $14million a year(or $7,000/hr) in pay, we can't afford to fly them commercial.
That is $7,000/hr wasted.!!!
I could put 350 "good" people to work for that at $20/hr.
Think about it.
Does anyone else see the insanity of this??

Posted by: Bill | Nov 22, 2008 12:26:48 AM

No Bailout for the big 3! This would simply allow them to maintain their own lavish lifestyle. It's their own fault they're in a crises with their corporations, what are THEY doing to help themselves out? Answer: NOTHING!

Posted by: Donna Johnson | Nov 22, 2008 12:27:41 AM

Bob Weibel,why can't they get paperwork, phone calls, etc. done sitting in an airport? Unless they've got Ashley Dupre and her cohorts on the jet, they'd be doing in the airport the same things they do on the jet.
And, it's not just about the jets. It's about their mansions, penthouse apt's in various cities, lavish furnishings, parties, vacations, and on and on.
Tell me one GOOD reason why ensuring that those CEO's can continue that lifestyle is MY responsibility...or YOURS.

Posted by: accountable | Nov 22, 2008 12:28:01 AM

They should sell all the jets and use the money for there bailouts. They are not poor they are just plain greedy and grafting after more; and the nation of tax payer should not have to go through it.If they truly need help they would help themselves buy selling those jets and whatever else they have that they don't have to help them from falling as they say. I don't believe them, everything was just fine, until they heard about the $700 billion bailout. Now all of a sudden they need help, They need help alright, they need Jesus.

Posted by: Sharon R | Nov 22, 2008 12:28:51 AM

To make the assumption these executives are "special" is wrong. What appears to be the case is that these executives are completely out of touch. Maybe if they actually took a road trip, in a car they actually produce, they would get some real insight into what is wrong.
Since 1970 GM has been losing market share. It seems to me that upper management has not been getting it wrong for decades!

Posted by: Randy Juras | Nov 22, 2008 12:29:02 AM

They just do not get it! The spoiled executives are not willing to do whatever it takes to save the Industry. They are on verge of going bankrupt and yet are only willing to give up two of five jets. Wake up America! The excesses at the top are the cause of the whole crisis. Inept and irresponsible management has finally caught up with them. Hold them accountable! The auto indusrty needs to focus on quality, invest in new technology and cut back on so many different models. A Great truck, five energy efficient cars and start from there. It can be turned around if they are willing to make some sacrifices and stop the frills. Put people back to work. They forget who buys the product.

Posted by: J. Allen | Nov 22, 2008 12:29:24 AM

They are totally out of touch with reality. Why should they demand our tax dollars when they retain luxuries most of us never dream of? Chapter 11 Bankruptcy would solve their problems. Let these dinosaur organizations die and be reborn as modern, efficient entities without the burden of greedy executives and overcompensated UAW employees.

Posted by: PAT | Nov 22, 2008 12:29:28 AM

Why not make those Wall Street Aces like AIG execs take commercial jets? They have endangered everyone in this country with their carelessness and greed. The automakers are coming to ask for a LOAN, not a free handout. They have a darn good product. I am not worried about them, I am worried about those jerks in Congress who weren't minding the store and let this economy get out of hand. What about Alan Greenspan and all the experts? Didn't they see this coming? You can't give mortgages to folks with no down payment,and interest only payments and expect that it could go on forever without a consequence! Hey, what IS the history of how all these folks were able to get no down payment mortgages, and "Have bad credit..come talk to us, we can put you in a home fast"? What the heck went on there? No common sense from the people who should know about economics? I am disgusted by what our leaders have done to us--the American People. You have unravelled a network of common sense safeguards that kept this county humming. Now,do some more harm by kicking out the supports from under the auto inductry.It gets dumber and dumber..

Posted by: shelia e | Nov 22, 2008 12:29:35 AM

I find it unbelievable that 3 execs asking for 25 million in bailout money would even have the nerve to fly to that meeting in private jets. They must think very highly of them selves...and very little of the American people they are expecting to help bail them out while they continue to live "high on the hog".

Posted by: Cathie D'Amron | Nov 22, 2008 12:30:26 AM

Yes, they need to tighten their belts just like the rest of Americans. Just because they sit in offices and have the best luxury items at their fingertips, time for a change. If they need help show other employees that they are willing to give up luxury and get down to their level to help the company out of their situation. Shame on them for even taking the jet into the locker and not having to get out in the weather like other people have to do when they travel on planes. What is going to happen to America if the upper class of people keep living high on the hog and others are loosing their homes and families are hurting.

Posted by: Ginny | Nov 22, 2008 12:30:50 AM

What does this say about the corporate boards behind these CEOs ---giving them obscene salaries and benefits including (corporate jets)--when they should be taking them to task for not being ahead of the curve in seeing the direction their companies needed to go so as not to be asking for handouts! They need to do what other smaller companies (not asking for handouts) are doing all over America...try and live within their means...whatever it takes! Lower CEO salaries and no jets....is a good place to start!

Posted by: LE | Nov 22, 2008 12:31:57 AM

The private jet issue is ridiculous to bring up, and is just an excuse for not making a decision; do AIG execs fly on a private jet? Of course--it's OK for the financial services industry that we are providing bailouts to. We give them money just like banks gave money to the no doc subprime homeowners. Stop the bias against the American auto industry, get over it, and stick with the real issues. Flying corporate jets is standard procedure for security reasons, and on time arrival.

Posted by: donna | Nov 22, 2008 12:35:06 AM

I BELIEVE THAT THE CEO'S SHOULD SELL THEIR AIRPLANES. AND RIDE LIKE EVERYONE ELSE. THEY ARE THE REASON THE COMPANY IS WANTING TO BE BAILED OUT. MY HUSBANDIS DISABLED, AND I HAVE TO WORK 2 JOBS PAY OUR BILLS. SOMETIMES THAT ISN'T ENOUGH. I WOULD'NT GIVE THEM THE
MONEY. BECAUSE IT'S PEOPLE LIKE ME PAYING FOR IT. MAKE THEM CUT THEIR PAY.

Posted by: joanna | Nov 22, 2008 12:36:41 AM

I say ''no corporate planes at all'',Plus give back any bonuses received in the past 3 years,or no bailout{deal}.Plus- take a cut in compensation or go broke.

Posted by: Raymond Lee Coci | Nov 22, 2008 12:40:53 AM

It makes no difference to me whether they fly by private jet or hitchhike. It matters to me whether we pay them for their failures. They pay out excessive dividends, excessive salaries, and have no cash reserves. They run their daily operations on stock value so now that the stock has fallen, they can't remain solvent. That's poor business. Bailouts are never the solution. Let them fail. When consumers are crying for cars, and they are not at this time suffering any shortage, the market will step up and provide consumers with cars. The same should apply to financial firms that have conducted their businesses like fools, buying mortgages offered to poor credit consumers and hoping real estate values would increase by 30 percent in the following two or three years. Idiots all, let them fail, better minds will replace them.

Posted by: Lance | Nov 22, 2008 12:41:23 AM

Enough is enough. Give them a dose of being a "little man" for a while and let them figure out a way to pull the auto industry up by the bootstraps!

Posted by: Al | Nov 22, 2008 12:43:29 AM

It really gets me that these corporations think the tax payers owe them their big salaries and luxury expenses. It's as if they feel the American taxpayers owe them this lifestyle. They need to face reality and cut budgets, including their own salaries. I think they should sell the jets, cut their multi million dollar salaries, no bonuses, no resort type conference meetings, tighten the reins at the top and see how much they save.

Posted by: bab | Nov 22, 2008 12:43:56 AM

I don't think the auto workers in the plants should have to take anymore paycuts we work hard for the wages/benefits we get. Mind you the healthcare isn't the best. People on the outside seem to think 'you work at GM you must be rich'.Well my answer to that is HA. THE ONES THAT NEED TO GIVE ARE THE EXECS. THEY SHOULD HAVE TO GIVE IT ALL UP. NO JETS,BONUSES OR SALARIES.

Posted by: reba | Nov 22, 2008 12:44:44 AM

PUTTING TWO JETS IN THE BARN MEANS NOTHING. SELL THEM ALL THEN ASK FOR A TAXPAYER BAILOUT.HAVE THE TOP TIER OF ALL THREE FIRMS SPEND THEIR OWN MILLIONS ON BUYING COMPANY STOCK THEN LETS SEE IF THEY GO BANKRUPT OR SOMEHOW TURN THEIR FIRMS AROUND. HAVE MANAGEMENT SHOW SOME SPUNK AND PUT ALL THEIR PAST BONUS`S BACK INTO THE CORPORATE TREASURY`S TO SHOW FAITH IN THEIR ABILITIES TO COMPETE. NO BAILOUT WITHOUT NEW COMPETENT MANAGEMENT!!!!!

Posted by: JOHN K | Nov 22, 2008 12:46:00 AM

They should SELL all the corporate jets, then file chapter 11. Perhaps the unions will be forced to make concessions and get real about contracts. Unless this is done the 'big 3' should go belly-up!

Posted by: Judy | Nov 22, 2008 12:47:11 AM

Execs MUST take pay cuts & give up all the perks. We "little people" are struggling. Who pays our bills?....who can we turn to?....but, they have the nerve to ask for billions! It is a disgrace. Jail them all, they are crooks!

Posted by: Cee | Nov 22, 2008 12:49:26 AM

Ececutative travel should be at least expensive level possible in all cases. It is only logical to do it this way, as it puts the most profit on the bottom line. That is what any top executative should be interested in, not personal comforts.

Posted by: Rich | Nov 22, 2008 12:50:07 AM

How generous of GM to take 2 jets out of service ... what about the other 3? At the very least, why couldn't the executives from Ford/GM/Chrysler fly together in ONE jet, from the same airport, for the SAME meeting?!!! Not only should they get rid of the private jets, they should not be taking their huge salaries, bonuses, and other perks while they're asking for taxpayers' money! If we're expected to sacrifice, why shouldn't they?! It's high time the golden parachutes go into storage until the country is financially sound again!

Posted by: Barb | Nov 22, 2008 12:51:04 AM

Everyone has gotten greedy so why not these guys? They are as bad as the entertainers and the Sports athletes. Nobody needs to make the kind of money that any of these people make. The problem is that we have given in to them and it has only gotten worse not better. It's no wonder why our economy sucks, the stock market is way down, the prices of everything including gas, movie tickets, cable tv., airplane travel, clothes, designer clothes, every part of our society as we know it has been touched by the "Greed Monster" No one is immune to it. These guys are only doing what they have been allowed to do as well as everyone else. Look what happened to Enron? That was only the beginning as you can well see. This country is now in for a rude awakening. Let these guys take a pay cut. That is the only way they are going to get the respect of the public. They shouldn't be bailed out if they can't take a pay cut and lose their planes.

Posted by: Amy Grenader | Nov 22, 2008 12:52:03 AM


How do these people sleep at night? Flying in the corporate jet is only part of the problem with these greedy exces. They still manage to get their salary and then some.They have no problem laying off workers in order for them to still receive their perks. What is insane about all this is that they don't think they have done anything wrong.They feel they are justified to ask for a bail out. It's amazing they will probably still manage to have their Christmas party. But why not, we are paying for it! You can be sure they won't be having a Deli Platter,like most of us will,if we're lucky. I can't believe we have so many ruthless people in high positions, in this free country. They are disgusting!!!!!!!

Posted by: JT | Nov 22, 2008 12:53:48 AM

The arrogance of these CEO is disgusting. You would think that even if they should be allowed to have private jet (as obviously they are) that when they're asking the tax payers to help them that they would at least appear to be sensitive to the fact that the overall econamy is in jeopardy. The whole notion of tar and feathers, and running them out of town on a rail comes to mind. Shameful!!!

Posted by: Banks | Nov 22, 2008 1:01:46 AM

This is an issue that only people who are in business understand, they put a value on their top executives time.

This is a nit picking issue, best handled by their shareholders; not the Congress or the media.

The Congress should be saying, "How can we help you?" through these difficult times.

Posted by: Joseph Mash | Nov 22, 2008 1:03:59 AM

Many small businesses across the country are suffering too but we pay our employees, our bills, our vendors & then we pay ourselves. I won't be offered any bailout or assistance. We make sure every purchase is necessary to run the business. Maybe the auto executives should try that for a change. They should sell the jets, trim ALL the excess expenses for the execs & top echelon of these companies, give up their salaries & bonuses for a year, roll up their sleeves, set a good example & start EARNING THE RESPECT of their employees & the taxpayer. Maybe then our government should consider giving them any money. If I was in charge my answer - Do all of the above and THEN we will talk!

Posted by: CM | Nov 22, 2008 1:04:05 AM

This is so bogus it's embarassing that ABC and Congress even brings it up. I'm never happy to see waste but this is obviously much more efficient than making a CEO of a Fortune 500 company take a full day for travel (to any place) when the stockholders are paying thousands of dollars per hour for the CEO's salary. It appears that GM has re-evaluated the number of private jets they need to operate in their current circumstances which I think was and is a wise decision. Yes, I agree that Americas car manufacturers may have continued to build the wrong GAS GUZZELER vehicles, but we Americans still want our Pickup Trucks and SUV's. But GM, Ford and Chrysler are moving to build more efficient vehicles. This just appears to be ABC and the congress picking up on Americans anger at the $700 Billion Bail out of financial institutions. That anger is correctly focused upon the financial institutions, real estate agents, and low income home purchasers and flippers who all acted greedily and irresponsibly. The car manufacturers are at least making a valuable product. What the financers were producing was 'snake oil' which destroyed a world economy due to greed, a natural human emotion. ABC PLEASE GET REAL! We could do with at least 50% less employees in financial institutions. We need the car manufacturers for our economy to thrive. Without them we will need to import even more from world competitors. Wise up congress. I could go on but I hope everyone gets the picture.

Posted by: Dave | Nov 22, 2008 1:04:36 AM

I am so disgusted with these auto executives! Do they live in the same world as the rest of us? I think they have been in another world since the 1970's. I had just gotten my driver's licence when OPEC decided to create the oil crisis and even at 16 years old I understood the power that OPEC wielded. Why didn't they learn then when it would have done us all some good? It is ridiculous to continue to follow a pattern that could only lead to the mess we're in now. What happened to innovation? This country used to be a leader in innovation. For years now new ideas have been crushed under the heel of complacency, or maybe just indifference. I is my hope that finally the people who have the power and money will join with the innovators and make the changes we so desperately need to get this country going in the right direction again. Oh, by the way I think they should sell those jets instead of retiring them. Tell them to think of it as a large scale yard sale like I'm sure alot of their ex-employees are having. I agree with Whoopie Goldberg, WHAT THE HELL?

Posted by: Macaw608 | Nov 22, 2008 1:07:16 AM

Sell the freakin jets you jerks!

Posted by: Loretta Redcloud | Nov 22, 2008 1:09:01 AM

They should sell all the aircraft and reduce their salary to one million per year permanately

Posted by: Eddie | Nov 22, 2008 1:12:59 AM

they definitely have to sell the jets to get bail out money & take salary cuts!

Posted by: linda watkins | Nov 22, 2008 1:15:17 AM

I think any company that is being bailed out by the taxpayers should require its executives to take salary cuts, give up the golden parachutes, and the company should sell its airplanes, and require the executives to fly commercially.

Posted by: Mike Glasgow | Nov 22, 2008 1:22:49 AM

If times were good and there were emergencies, it would be understood; however, in these days and times it's is like laughing in our faces. Do they want our support? Stop getting the perks they are used to. I think this is the least they could do.

Posted by: Marlene | Nov 22, 2008 1:23:14 AM

You damn right I want'em standing in line waiting on a commercial flight. They don't do anything any way except sit around and think up a bunch of bull to agitate employees and make it as hard as possible. This is supposed to make them espert Managers to demand millions in salary. The boards of directors are all part of the same klan that support each other 100%. If they had to train someone to build an auto, they wouldn't know where to start.

Posted by: Lamar | Nov 22, 2008 1:25:02 AM

GM,Ford and Chyrsler CEO's should use charter planes from Commerical airlines. Just link the Senators ride they should ride. These CEO's are not the President of the United States. Give me a break. Ceo's salary from their millions should be cut back to a Million and donate their income back towards their employee expenses. Sell all of their corporate Jets. All 3 CEO must unite financially if they want to stay in business together. Hey if the Democrat Party can unite. So can they. If they must have a corporate Jet. They must have at least one so all 3 can Jet Pool together to their meetings. If you must travel by Helicopter like the U.S. President. Here is my Solution. CISCO TECHNOLOGY. The Human Network. Use Video and Voice technology or even a Halogram like on sister station CNN with Wolf Blitzer. Now that is going GREEN. That way nobody had to leave anywhere. Save fossil fuel. Think Green.

Posted by: Gabriel Rodriguez | Nov 22, 2008 1:29:50 AM

Well I read a lot of these comments..and I own a lot of stock.. I know that the stockholders have no say in the company.. the board and executives run it and the stockholders just vote with no say and there is no way to remove any of them..and the board members are either CEO's of other companies or members of other boards and they just keep approving all the perks that they can for each other..they go from one board to anoher...

It is very unfortunate for the stock holder.. we have to take the dividen that they decide to share with us after they have had their meetings in plosh resorts, private jets, $1000.00 bottles of wine that they drink to think that that makes them important.........

I now have a feeling.. I heard today on talk radio a guy who worked for GM..saying that one CEO got shot in the 80's, and another had a kid kidnapped...and another several had something happen to them also..

So on the private jet deal.. ok... but not to take their smart ass and their family to Vail for a skiing vacation.. only for business!! To go to factory's or suppliers.. no pleasure.. and if they travel on commercial (who would know that they were on that flight).......... then hire them a body guard or 2.. much less than $40,000 or so for a round trip on a private jet.. (Oh, but don't we all know they would much rather travel on a private jet....don't have to pay for the wife or kids tickets.. ... wouldn't we all ?? "but we are executives and we are accustomed to first class..") 3 tickets round trip first class about $6000.00.

I don't want my tax money paying a buy out for them to fly on private planes for any company that the Federal Government has to bail out..!! Any company exec. can go commercial with a body guard!! They have cell phones and computers to keep in touch.. so not like years ago when they were 'out of touch'..

And I think that a lot of us taxpayers should fire a lot of those AIG executives too for their thumbing their noses at us to....

Let's all go for stopping all these perks that executives and board members approve for themselves.. They are no better or smarter than many of us.. They just wormed their selves into that position because they knew what they could reap from it.. and then vote for themselves..

Lets change this.!!
George, Ft. Laud.

Posted by: George | Nov 22, 2008 1:32:41 AM

No one is worth the kind of money and the "perks" that these CEO's get! The Jets, and Limosines should be sold or
if leased, the leases should be forfeit immediately. Their salaries should be governed by reasonable ceilings. Relative to the other employees, their level of education and experience, the greater amount of responsibility they shoulder and the number of hours they
actually" work should be factored in to a reasonable salary level. I would think that a ceiling of $1,ooo,ooo annually would be a very decent income for anyone to live on. Their bonuses should be limited to the same frequency as other employees and to a ceiling of 5% of their annual salary. They should pay for all their own expenses, vacations lunches, dinners, etc.. They should be subject to performance reviews as is everyone else and if they do not perform well and produce positive results for the organization, they should be replaced. No ifs, ands or buts! At this point, since they ran the business into the ground, they should return the millions and billions that they have stolen through the years and dare not have the nerve to even face the taxpayers let alone to ask them to bail them out. However, since letting them fail would have an adverse affect on the economy at this time, it is probably more prudent to assist them to stay afloat - But - only with stringent conditions. They themselves would have to help the effort as well - for example - they would have to return 90% of the monies, stock options etc. that they received through the years and contribute it to the funds the government would "lend" them and of course many other areas that affect the viability of the company should be addressed and sensible, reasonable agreements must be reached between all parties concerned - including the American taxpayers. Additionally, the management of these companies should be overseen by professionals reperesenting the taxpayers.

Posted by: Ann | Nov 22, 2008 1:32:52 AM

THEY DON'T HAVE A PLAN!!!

CEO'S OF GM, FORD AND CHRYSLER SHOULD STEP DOWN FOR THE GOOD OF THE COMPANY!!!

AMERICAN PEOPLE NEED TO CONTACT CONGRESS AND SAY "HELL NO" TO THE BAIL OUT!!!!

FORCE THEM INTO BANKRUPCTY AND RESTRUCTURE THE CEO, MANAGEMENT AND WORKERS SALARIES!!! EVERYBODY TAKE A CUT!!

Posted by: sisterdearest09 | Nov 22, 2008 1:43:47 AM

Instead of a billion dollar bailout let those company's sell their perks use that money to bail themselves out. It is completely absurd that the American tax payer should have to support these company's. Their should also be a limit on their salary's as far as I concerned no man or woman on this earth is worth millions a year in salary.

Posted by: Donald R.Harris | Nov 22, 2008 1:47:11 AM

I'd just like to say, I'd be afraid to meet my maker if I were one of these corporate execs!
As a counselor for terminally ill people and their families, I've seen the 'journey to the maker' over and over again. No one bails out these families, who lose their income while watching their loved one die from some cruel, painful disease.
These execs are not only greedy and arrogant, they obviously suffer from delusions of grandeur. They are also ignorant. pawns being thrown into a pack of rabid, starving wolves, who are struggling to survive.
I am one of those hungry wolves, and quite frankly, this sadd!
With the bailout money proposed for these few corporations, our government could INSTEAD bailout millions of individual hardworking Americans who earn every dollar they make HONESTLY.

I WAS DENIED GOVERNMENT ASSISTANCE WHILE EARNING MY MASTER'S DEGREE(pregnant and alone) because, AND I QUOTE "a Master's degree is not job training" said Maryland.....and YES, I have it in writing.

Thanks for nothing, Uncle Sam. Now I get to 'help' out those poor, poor little lambs.....who only make 370 million or so......

Without a doubt, if I showed up for my student loan exit interview in a private jet, I'd have to write out a big, fat check on the spot. Instead, I get to (have to) BAIL MYSELF OUT---to the tune of $40,000----for the next 20 years or so.


Posted by: Marla Fowler | Nov 22, 2008 1:48:24 AM

I'd just like to say, I'd be afraid to meet my maker if I were one of these corporate execs!
As a counselor for terminally ill people and their families, I've seen the 'journey to the maker' over and over again. No one bails out these families, who lose their income while watching their loved one die from some cruel, painful disease.
These execs are not only greedy and arrogant, they obviously suffer from delusions of grandeur. They are also ignorant. pawns being throw